Japan supports infrastructure development in Asia

Sunday, 07/05/2017 09:54
The Government of Japan has decided to provide JYP4.5 billion (USD40 million) for the Asian Development Bank to improve regional infrastructure.

Photo for illustration (Source: EPA)

In a speech delivered at an annual meeting of the ADB in Yokohama, Japan on May 6th, Japanese Finance Minister Taro Aso said that the fund will be disbursed in two years for infrastructure development and the application of new technology in Asia.

The sum is expected to be spent in electric wires system, renewable energy, intelligent transportation systems, smart cities and remote sensing technologies. 

On May 5th, Japan also put forward a new bilateral currency swap agreement with the Association of Southeast Asian Nations (ASEAN), providing up to JPYfour trillion (USD36 billion) to tackle difficulties in short-term liquidity in crisis. 

The proposal was made during a meeting of the Finance Ministers’ and Central Bank Governors’ Meeting of ASEAN and Japan on the sidelines of the annual meeting of the ADB./.

CPV/VNA

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